Once upon a time, you could work 25 or 30 years for one employer or in one industry and expect […]Read more
If your union or employer’s defined benefit plan was in critical and declining condition and facing insolvency, would you consider […]
On March 11, President Biden signed the American Rescue Plan into law. Most of it was stimulus spending designed to […]
There is a growing pension crisis in America. Anyone who’s been listening to the podcast has heard my guests talk […]Read more
On Friday, John Elliot, a partner at New England Pension Consultants and a 2005 recipient of the Taft-Hartley Consultant of […]Read more
The Central States Pension Fund (CSPF) serves 400,000 workers and retirees, but it’s expected to become insolvent by 2025. Before […]Read more
Meet Jason Russell, who is a senior vice president and actuary with Segal and works with multi-employer pension plans across the country. Jason deals with a wide range of benefit plans, both healthy and distressed, in various industries.
Our conversation is about the immediate need to reform Defined Benefit Plan regulations. Jason explains the various proposals that could provide much-needed aid to sustain multi-employer plans. Not surprisingly, the economic impact of the coronavirus pandemic has heightened the need to include these plans in one of the proposed stimulus packages.
Before the economic crisis caused by the coronavirus pandemic, there was 130 plan in critical-declining status with another 200 in critical condition. Jason explains the potential macroeconomic impact due to the strain on social safety nets in America if too many of these plans go insolvent. For additional information on the macroeconomic impact visit:
NCCMP: Cost of doing nothing
Central States economic impact